According to Two separate Reports of Property Valuations in New York City, if you Own a Condo in a Manhattan Building with Trump's Name, it it will Sell for Less then similar Properties, when you want to Sell it.
In a deep dive into the impact that the Trump Brand has on Properties, and changes after Trump's name is removed, the New York Times is reporting that the Trump Name is worth a Lot Less, than Trump Listed in the Financial Fraud Trial, that came to an end last week, with a potential $450 million Fine.
According to the Times' Rukmini Callimachi, who collected Data from Real Estate Listing, "A review of the price per square foot of condominiums in the seven buildings in Manhattan that still carry the Trump name found that the value dropped 23% between 2013 and 2023," with another Listing setting the Decrease at 17%.
Four Buildings that Removed the Trump Logo from their Facades by the end of 2020, ended the Decade from 2013 to 2023 up 9%.
According to the Report, Tramp's Landmark Trump Tower has also been hit Hard, with the average Price per Square Foot, of its Condominiums collapsing "49 percent since 2013, according to Ondel Hylton, the Senior Director of Content and Research at CityRealty," adding than aging Bbuilding has also been surpassed by Newer Developments.
As Columbia University Economist Stijn Van Nieuwerburgh put it, “It’s huge,” citing a 25% drop "compared with similar properties from their peak in 2013."
“This analysis cleanly identifies that it is the Trump brand that is responsible for the value deterioration,” Van Nieuwerburgh elaborated. “Removing the Trump name from the building removes the loss associated with the name.”
Surveying the Numbers, a stunned Ondel Hylton, the Senior Director of Content and Research at CityRealty said: "I just crunched the numbers in the past half hour, and I’m still trying to wrap my head around it."
NYC Wins When Everyone Can Vote! Michael H. Drucker
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